Exelixis (NASDAQ:EXEL) Director Mary Beckerle Sells 7,712 Shares

Key Points

• Director Mary Beckerle sold 7,712 Exelixis shares on May 7 at an average price of $48.45, totaling about $373,646. After the sale, she still held 17,524 shares, a 30.56% reduction in her position.
• Exelixis beat quarterly expectations in its latest earnings report, posting $0.87 EPS versus the $0.75 estimate and revenue of $610.81 million, up 10% year over year.
• The stock has been trading near its 52-week high, rising 4.2% to around $48.16, while analysts currently rate it a consensus “Hold” with an average price target of $47.83.

Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) Director Mary Beckerle sold 7,712 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $48.45, for a total transaction of $373,646.40. Following the transaction, the director owned 17,524 shares in the company, valued at $849,037.80. This represents a 30.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Exelixis Stock Up 4.2%

EXEL traded up $1.95 during midday trading on Friday, hitting $48.16. 2,179,003 shares of the company traded hands, compared to its average volume of 2,756,304. The firm has a market capitalization of $12.11 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.09 and a beta of 0.38. The company's 50-day moving average is $43.44 and its 200 day moving average is $42.97. Exelixis, Inc. has a 52 week low of $33.76 and a 52 week high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The business had revenue of $610.81 million for the quarter, compared to analysts' expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. On average, sell-side analysts predict that Exelixis, Inc. will post 3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently bought and sold shares of the stock. Motiv8 Investments LLC bought a new position in Exelixis in the 4th quarter worth $26,000. Richardson Financial Services Inc. raised its stake in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 292 shares during the period. Anchor Investment Management LLC raised its stake in Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 500 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in Exelixis during the 1st quarter worth approximately $27,000. Finally, Acumen Wealth Advisors LLC bought a new stake in Exelixis during the 4th quarter worth approximately $29,000. 85.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXEL. Barclays increased their price target on Exelixis from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Exelixis in a report on Thursday, January 22nd. TD Cowen increased their price objective on shares of Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday. Truist Financial upgraded shares of Exelixis to a "strong-buy" rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus increased their price objective on shares of Exelixis from $44.00 to $47.00 and gave the stock a "hold" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $47.83.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.

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